AICPA staff release technical Q&A on liquidity restrictions

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12 Oct 2008

The staff of the American Institute of CPAs has issued a new nonauthoritative Technical Practice Aid (TPA) addressing the potential accounting and auditing implications when a fund or its trustee imposes restrictions on a nongovernmental entity's ability to withdraw its balance in a money market fund or other short term investment vehicle.

The TPA covers balance sheet classification, disclosures, debt covenants, subsequent events and going-concern considerations, among other things. Click for all of our Credit Crunch Information.


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